Giant Group, headquartered in Portland, OR, acquired a 32.5 percent stake in Stages Cycling, a maker of stationary smart bikes for the commercial gym and home markets and crankarm-based power meters.
According to a filing with the Taiwan stock exchange, Giant Group’s board approved the purchase of Stages Cycling’s stock for $6.5 million and the acquisition of Stages Cycling’s convertible corporate bonds for $13.5 million.
Giant Group said, “Through the integration of indoor and outdoor cycling products, Giant Group can offer consumers a more comprehensive cycling experience, enabling consumers to enjoy the benefits and pleasures from outdoors to indoors and vice versa, and hence improving the overall quality of the cycling experience. Through this strategic alliance, Giant Group can further utilize its brand advantage within the professional cycling market and consolidate both manufacturing and distribution resources to maximize synergies. This, on the one hand, increases both product and service values and, on the other hand, creates a seamless online and offline cycling ecosystem, thereby accomplishing the goal of future gradual long-term operation performance gains and enabling Giant Group to continue to grow.”
Giant Group previously manufactured some of Stages’ indoor bikes with an expansion in the partnership to assist with the next generation of Dash head units last year.
